High Voltage: US graphite stocks gain 40pc advantage thanks to anti-dumping tariff on China

America is doubling down on anti-dumping duties for Chinese graphite, after accusing the country of exporting the mineral at unfairly low prices.

US graphite producers and near-term players poised to capitalise on Chinese tariffs. Pic: Getty Images.

Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.

Graphite pricing has been significantly impacted by Chinese production in recent months, and the US has just notched another arrow to fire in its trade war around the critical mineral.

Back in February, the US International Trade Commission (ITC) ruled that China harmed the American graphite industry by exporting graphite at unfairly low prices.

And last week, the Department of Commerce in the US applied 93.5% anti-dumping duties on active anode material (processed graphite). When combined with existing tariffs applied to Chinese imports into the US, the impost now totals 160% for active anode material.

Active anode material (AAM) is graphite refined into coated spherical purified graphite and is the final product used in batteries.

China has a stranglehold on global graphite supply, with 98% of graphite anode material (both natural and synthetic) coming from China.

The significant tariffs at a major import market like the US are expected to impact global prices of graphite and have highlighted the need for Western countries to shore up domestic supply chains - particularly around minerals critical to defence and tech applications.

Benchmark Minerals Intelligence (BMI) says the move will push the cost of Chinese AAM from ~US$3700/t to US$9300/t, making US-made AMM at ~US$5400/t over 40% cheaper.

“This marks an advantage for US anode aspirants looking to onshore production as they are likely to see greater interest from investors and cell makers, give the more balanced cost landscape,” BMI said.

“However, given the current limited availability of commercial-scale domestic AAM, cell makers will likely to absorb these higher associated costs in the near-term, which could dampen demand.”

BMI Graphite price

Near-term US graphite producers

The tariff/trade war could present opportunities for ASX stocks with a near-term development project in the US – and even those further afield (but more on that later).

Syrah Resources’ (ASX:SYR) has its 11,250tpa Vidalia active anode materials plant, which is ramping up in the US and has the potential for expansion to 45,000tpa (targeted by 2028) and long term aspirations of >100ktpa.

Qualification by key customer Tesla has been extended from May this year to February 9, 2026.

There’s also Novonix (ASX:NVX), which owns the Riverside facility in Chattanooga, Tennessee, which is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America. The project is targeting a 3000tpa start-up this year, growing to 15-20,000tpa by 2030, with long term aspirations to expand capacity to around 150,000tpa.

The initial 20,000tpa is already fully accounted for, with long-term offtake agreements with Panasonic Energy, Stellantis, and PowerCo.

Outside of the US, Renascor Resources (ASX:RNU) has the Siviour project in South Australia, the most advanced graphite development in Oz.

Siviour is expected to be one of the world’s lowest cost projects, with costs of US$405/t of graphite concentrate in the first 10 years. The upstream mine and concentrator has already nabbed a $185m loan under the Australian Government’s Critical Minerals Facility, signalling the nation-building value of the project.

RNU is looking downstream as well, planning to commission a purified spherical graphite (PSG) demonstration plant in Q4 this year.

In the Northern Territory, Kingsland Minerals’ (ASX:KNG) Leliyn project has an inferred resource of 180.2Mt at 7.2% total graphitic content and indicated resource of 12.3Mt at 7.9% TGC, making it one of the largest in situ graphite resource in Australia.

A scoping study is expected to be released this quarter, and will focus on just a fraction of the project’s 12km strike zone.

iTech Minerals (ASX:ITM) has the Lacroma, Sugarloaf and Campoona deposits north of Siviour on South Australia’s Eyre Peninsula.

It boasts a global mineral resource of 35.2Mt at 6% TGC, with test work already showing the project can produce a 94% graphite concentrate with material suitable for the key battery market.

Buxton Resources (ASX:BUX) owns the 20.7Mt at 10.8% TGC Graphite Bull project in WA where earlier this month the world’s largest anode manufacturer, BTR New Material Group, has qualified the ore for its entire ore-to-anode production process.

International Graphite (ASX:IG6) owns the Springdale deposit and proposed Collie plant, and Green Critical Minerals (ASX:GCM) owns 80% of the 1.1Mt McIntosh project, but has moved into the technology space, beginning production runs of its Very High Density (VHD) graphite block technology, with first revenue expected in H1 CY26.

The tech has thermal management applications in sectors from global electronics, semiconductor and microchip manufacturers, to data centre operators.

Battery Metals Winners and Losers

Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese and vanadium is performing >>>

Battery metals stocks missing from our list? Shoot an email to [e-mail]

Code	Company	Price	% Week	% Month	% Six Month	% Year	Market Cap
XTC	XTC Lithium Limited	0.2	19900%	19900%	19900%	19900%	$17,528,272
LMG	Latrobe Magnesium	0.018	125%	125%	6%	-59%	$42,108,350
AS2	Askarimetalslimited	0.016	100%	167%	45%	-64%	$6,466,731
HLX	Helix Resources	0.002	100%	33%	-33%	-33%	$5,046,291
VR8	Vanadium Resources	0.041	86%	105%	32%	-18%	$23,135,967
GTE	Great Western Exp.	0.019	58%	111%	-21%	-37%	$11,355,159
GRE	Greentechmetals	0.078	56%	81%	16%	-35%	$7,824,264
SLZ	Sultan Resources Ltd	0.006	50%	20%	-25%	-14%	$1,388,819
PGD	Peregrine Gold	0.265	47%	71%	77%	83%	$22,060,413
IG6	Internationalgraphit	0.072	47%	41%	20%	-17%	$13,936,200
EVG	Evion Group NL	0.033	43%	106%	32%	65%	$13,917,439
PMT	Patriotbatterymetals	0.475	42%	116%	32%	-4%	$267,688,695
IXR	Ionic Rare Earths	0.0255	42%	132%	264%	155%	$124,813,852
IPT	Impact Minerals	0.009	38%	50%	-13%	-36%	$31,946,640
LKE	Lake Resources	0.044	38%	57%	7%	22%	$84,748,040
AR3	Austrare	0.12	36%	140%	43%	38%	$24,378,547
SYR	Syrah Resources	0.395	34%	58%	72%	32%	$432,531,598
SYR	Syrah Resources	0.395	34%	58%	72%	32%	$432,531,598
AGY	Argosy Minerals Ltd	0.032	33%	113%	10%	-60%	$50,685,391
RLC	Reedy Lagoon Corp.	0.002	33%	33%	-33%	-33%	$1,553,413
SMX	Strata Minerals	0.016	33%	33%	-48%	-38%	$3,672,783
EMT	Emetals Limited	0.004	33%	33%	-20%	-20%	$3,400,000
TOR	Torque Met	0.24	33%	85%	314%	85%	$105,315,429
FIN	FIN Resources Ltd	0.004	33%	0%	0%	-33%	$2,779,554
EG1	Evergreenlithium	0.033	32%	6%	-60%	-44%	$7,058,030
BKT	Black Rock Mining	0.034	31%	36%	0%	-44%	$51,553,236
EUR	European Lithium Ltd	0.096	30%	68%	39%	104%	$127,175,969
PVW	PVW Res Ltd	0.018	29%	50%	29%	-31%	$3,779,191
FGR	First Graphene Ltd	0.036	29%	33%	-35%	-29%	$23,962,258
KGD	Kula Gold Limited	0.009	29%	13%	125%	-27%	$6,448,776
INF	Infinity Lithium	0.019	27%	36%	-34%	-64%	$8,979,250
INR	Ioneer Ltd	0.1325	26%	39%	-30%	-9%	$346,030,860
QXR	Qx Resources Limited	0.005	25%	67%	25%	-38%	$6,551,644
CTN	Catalina Resources	0.005	25%	67%	52%	113%	$10,917,086
GT1	Greentechnology	0.031	24%	63%	-52%	-55%	$12,829,591
TVN	Tivan Limited	0.105	24%	15%	-13%	91%	$203,871,395
MLS	Metals Australia	0.021	24%	24%	-5%	11%	$14,574,390
KOB	Kobaresourceslimited	0.039	22%	15%	-47%	-72%	$7,313,342
SYA	Sayona Mining Ltd	0.023	21%	53%	0%	-30%	$265,495,808
PLL	Piedmont Lithium Inc	0.1325	20%	52%	2%	-20%	$65,170,700
TLG	Talga Group Ltd	0.48	20%	20%	5%	9%	$218,382,574
ALY	Alchemy Resource Ltd	0.006	20%	20%	-14%	-14%	$7,068,458
TON	Triton Min Ltd	0.006	20%	20%	-25%	-40%	$10,978,721
PVT	Pivotal Metals Ltd	0.012	20%	33%	50%	-45%	$9,979,485
AKN	Auking Mining Ltd	0.006	20%	-14%	50%	-65%	$4,128,698
WSR	Westar Resources	0.006	20%	20%	-25%	-25%	$2,392,349
KZR	Kalamazoo Resources	0.11	20%	22%	41%	51%	$23,036,319
VUL	Vulcan Energy	4.23	19%	21%	-21%	-2%	$984,602,560
TMB	Tambourahmetals	0.025	19%	14%	0%	-43%	$3,805,949
RR1	Reach Resources Ltd	0.0095	19%	19%	36%	-21%	$7,869,882
RR1	Reach Resources Ltd	0.0095	19%	19%	36%	-21%	$7,869,882
FRB	Firebird Metals	0.13	18%	76%	31%	0%	$18,506,982
KTA	Krakatoa Resources	0.013	18%	0%	18%	44%	$10,076,742
TKM	Trek Metals Ltd	0.099	18%	8%	313%	209%	$56,670,152
PLS	Pilbara Min Ltd	1.815	17%	51%	-22%	-37%	$5,888,919,118
BCA	Black Canyon Limited	0.27	17%	170%	303%	225%	$35,800,202
WMG	Western Mines	0.28	17%	115%	87%	14%	$27,100,736
VHM	Vhmlimited	0.22	16%	13%	-35%	-62%	$55,785,389
STK	Strickland Metals	0.1675	16%	20%	112%	73%	$361,977,568
L1M	Lightning Minerals	0.045	15%	-25%	-48%	-31%	$5,466,068
IPX	Iperionx Limited	5.925	15%	38%	44%	165%	$1,762,802,476
LPM	Lithium Plus	0.069	15%	13%	-14%	-37%	$11,689,920
SGQ	St George Min Ltd	0.039	15%	22%	50%	26%	$104,240,075
ASN	Anson Resources Ltd	0.11	15%	144%	80%	-12%	$152,541,019
AZL	Arizona Lithium Ltd	0.008	14%	33%	-27%	-58%	$37,662,201
AM7	Arcadia Minerals	0.024	14%	50%	20%	-37%	$2,817,202
CDT	Castle Minerals	0.08	14%	8%	33%	-33%	$9,048,746
MHC	Manhattan Corp Ltd	0.024	14%	20%	0%	-4%	$5,637,574
BMG	BMG Resources Ltd	0.008	14%	14%	-20%	14%	$5,910,780
TLM	Talisman Mining	0.16	14%	23%	-22%	-38%	$29,189,654
LIN	Lindian Resources	0.099	14%	-6%	-6%	-14%	$124,259,335
MIN	Mineral Resources.	31.17	14%	52%	-12%	-43%	$6,025,260,399
NVX	Novonix Limited	0.54	14%	44%	-8%	-20%	$372,320,697
WCN	White Cliff Min Ltd	0.025	14%	25%	25%	56%	$60,334,654
RBX	Resource B	0.034	13%	36%	6%	-15%	$3,916,272
RAS	Ragusa Minerals Ltd	0.017	13%	21%	42%	6%	$3,029,379
RNU	Renascor Res Ltd	0.069	13%	23%	21%	-22%	$180,563,960
CTM	Centaurus Metals Ltd	0.395	13%	20%	-2%	10%	$191,229,967
NVA	Nova Minerals Ltd	0.265	13%	-18%	-22%	23%	$104,390,368
VRC	Volt Resources Ltd	0.0045	13%	13%	50%	-10%	$23,424,247
GSM	Golden State Mining	0.009	13%	20%	13%	-25%	$2,514,336
RIE	Riedel Resources Ltd	0.036	13%	38%	9%	-40%	$3,077,225
PNN	Power Minerals Ltd	0.065	12%	12%	-29%	-38%	$9,239,642
E25	Element 25 Ltd	0.2575	12%	20%	-11%	7%	$59,439,224
LTR	Liontown Resources	0.9225	12%	41%	40%	-6%	$2,259,346,631
ZEU	Zeus Resources Ltd	0.019	12%	58%	171%	111%	$14,348,733
LOT	Lotus Resources Ltd	0.195	11%	0%	-22%	-33%	$438,423,546
IGO	IGO Limited	5.265	11%	36%	1%	-6%	$3,945,365,306
G88	Golden Mile Res Ltd	0.01	11%	-23%	0%	-9%	$4,898,231
NC1	Nicoresourceslimited	0.1	11%	14%	11%	-29%	$12,345,058
WC1	Westcobarmetals	0.02	11%	5%	-9%	-35%	$4,375,969
CY5	Cygnus Metals Ltd	0.1	11%	16%	-29%	64%	$106,326,218
GCM	Green Critical Min	0.031	11%	29%	63%	933%	$76,317,142
SCN	Scorpion Minerals	0.021	11%	11%	0%	24%	$9,957,068
ADD	Adavale Resource Ltd	0.022	10%	10%	-45%	-73%	$4,203,970
GL1	Globallith	0.22	10%	54%	22%	-24%	$54,963,746
STM	Sunstone Metals Ltd	0.0165	10%	10%	136%	83%	$92,353,480
YAR	Yari Minerals Ltd	0.011	10%	0%	267%	267%	$6,894,638
ITM	Itech Minerals Ltd	0.033	10%	3%	-40%	-59%	$5,637,568
ARV	Artemis Resources	0.0055	10%	10%	-39%	-45%	$12,678,361
OCN	Oceanalithiumlimited	0.068	10%	3%	152%	79%	$11,621,877
ILU	Iluka Resources	5.35	10%	56%	16%	-14%	$2,315,878,466
VTM	Victory Metals Ltd	1.26	10%	52%	245%	260%	$136,381,295
S32	South32 Limited	3.14	9%	10%	-11%	5%	$14,141,414,280
MEK	Meeka Metals Limited	0.1525	9%	2%	39%	301%	$437,355,776
RIO	Rio Tinto Limited	120.02	9%	18%	2%	5%	$44,349,201,087
REC	Rechargemetals	0.013	8%	-7%	-32%	-58%	$3,340,870
HAV	Havilah Resources	0.195	8%	11%	-11%	-5%	$66,154,978
PAT	Patriot Resourcesltd	0.055	8%	0%	25%	8%	$9,076,235
GLN	Galan Lithium Ltd	0.145	7%	53%	21%	-4%	$139,772,833
JLL	Jindalee Lithium Ltd	0.45	7%	14%	120%	53%	$38,338,006
LM1	Leeuwin Metals Ltd	0.15	7%	15%	25%	83%	$15,120,958
NIC	Nickel Industries	0.7925	7%	14%	-5%	1%	$3,407,634,662
BHP	BHP Group Limited	41.87	7%	17%	7%	1%	$212,430,275,035
DLI	Delta Lithium	0.165	6%	-8%	-3%	-23%	$121,812,105
GAL	Galileo Mining Ltd	0.17	6%	62%	10%	-6%	$33,596,238
EMH	European Metals Hldg	0.17	6%	-3%	26%	-35%	$33,191,153
LSR	Lodestar Minerals	0.017	6%	183%	21%	-15%	$6,759,038
A4N	Alpha Hpa Ltd	0.94	6%	18%	7%	18%	$1,074,467,171
SRK	Strike Resources	0.035	6%	0%	17%	0%	$9,931,250
EMN	Euromanganese	0.185	6%	-3%	12%	-45%	$9,413,767
WC8	Wildcat Resources	0.185	6%	42%	-21%	-27%	$260,630,845
AVL	Aust Vanadium Ltd	0.0095	6%	19%	-32%	-41%	$86,346,581
BM8	Battery Age Minerals	0.062	5%	7%	-37%	-52%	$9,411,713
MAN	Mandrake Res Ltd	0.021	5%	11%	-5%	-22%	$13,172,458
LIT	Livium Ltd	0.0105	5%	17%	-38%	-50%	$16,909,071
VML	Vital Metals Limited	0.105	5%	5%	-30%	-40%	$12,968,919
RXL	Rox Resources	0.315	5%	15%	43%	117%	$238,911,961
WIN	WIN Metals	0.021	5%	17%	0%	-13%	$10,451,110
LYC	Lynas Rare Earths	10.505	5%	15%	58%	75%	$9,485,431,282
VRX	VRX Silica Ltd	0.085	5%	6%	85%	130%	$65,762,689
GED	Golden Deeps	0.022	5%	5%	-8%	-35%	$4,073,891
KM1	Kalimetalslimited	0.11	5%	45%	-12%	-42%	$9,113,220
BC8	Black Cat Syndicate	0.8525	5%	5%	24%	154%	$608,543,633
NTU	Northern Min Ltd	0.0345	5%	11%	64%	15%	$292,500,454
CAE	Cannindah Resources	0.024	4%	0%	-38%	-56%	$16,745,839
FML	Focus Minerals Ltd	0.395	4%	5%	88%	182%	$116,056,251
PBL	Parabellumresources	0.053	4%	4%	-4%	33%	$3,301,900
FRS	Forrestaniaresources	0.145	4%	107%	1350%	326%	$37,322,691
GW1	Greenwing Resources	0.029	4%	21%	-17%	-40%	$8,564,078
FTL	Firetail Resources	0.088	4%	17%	22%	47%	$32,682,406
KNG	Kingsland Minerals	0.15	3%	92%	15%	-25%	$10,521,332
JMS	Jupiter Mines.	0.2275	3%	14%	57%	-11%	$441,234,396
ADV	Ardiden Ltd	0.155	3%	7%	7%	15%	$10,315,388
NWC	New World Resources	0.067	3%	18%	319%	131%	$239,570,336
CHN	Chalice Mining Ltd	1.8575	3%	20%	55%	71%	$729,425,228
DM1	Desert Metals	0.0215	2%	2%	-7%	-28%	$9,730,305
SUM	Summitminerals	0.044	2%	29%	-66%	-78%	$4,517,380
ALK	Alkane Resources Ltd	0.69	2%	-5%	31%	37%	$417,823,905
CWX	Carawine Resources	0.097	2%	-1%	-8%	13%	$22,904,169
HAW	Hawthorn Resources	0.055	2%	-5%	20%	-20%	$18,425,859
OMH	OM Holdings Limited	0.325	2%	12%	-7%	-25%	$241,370,892
MEI	Meteoric Resources	0.1625	2%	30%	93%	35%	$362,291,231
NMT	Neometals Ltd	0.069	1%	10%	-14%	-4%	$53,859,756
BSX	Blackstone Ltd	0.074	1%	-14%	174%	76%	$129,891,858
SFR	Sandfire Resources	11.17	1%	1%	13%	33%	$5,173,739,862
ASM	Ausstratmaterials	0.72	1%	35%	47%	5%	$130,565,291
PTR	Petratherm Ltd	0.3725	1%	33%	-10%	2091%	$131,713,613
IDA	Indiana Resources	0.086	1%	10%	32%	85%	$56,560,456
CXO	Core Lithium	0.11	0%	31%	18%	12%	$246,446,788
RIL	Redivium Limited	0.004	0%	0%	0%	100%	$13,609,422
COB	Cobalt Blue Ltd	0.054	0%	-5%	-16%	-33%	$24,021,298
LPD	Lepidico Ltd	0.002	0%	0%	0%	0%	$17,178,371
MRD	Mount Ridley Mines	0.0025	0%	25%	-17%	-75%	$1,946,223
CZN	Corazon Ltd	0.002	0%	0%	0%	-60%	$2,369,145
CLA	Celsius Resource Ltd	0.007	0%	0%	-30%	-46%	$20,380,675
MNS	Magnis Energy Tech	0.042	0%	0%	0%	0%	$50,378,922
AXN	Alliance Nickel Ltd	0.034	0%	-3%	-8%	-11%	$24,678,547
AAJ	Aruma Resources Ltd	0.008	0%	-11%	-20%	-27%	$2,623,524
TKL	Traka Resources	0.001	0%	-50%	0%	0%	$2,125,790
ATM	Aneka Tambang	1.105	0%	0%	24%	3%	$1,440,532
LEL	Lithenergy	0.37	0%	0%	0%	1%	$41,440,581
MRC	Mineral Commodities	0.026	0%	0%	0%	0%	$25,596,288
PEK	Peak Rare Earths Ltd	0.31	0%	11%	114%	102%	$133,466,467
WKT	Walkabout Resources	0.095	0%	0%	0%	-10%	$63,769,838
CNJ	Conico Ltd	0.007	0%	0%	-22%	-30%	$1,905,020
BOA	BOA Resources Ltd	0.018	0%	-10%	-18%	-10%	$2,220,351
MQR	Marquee Resource Ltd	0.009	0%	0%	-18%	-18%	$5,024,723
MRR	Minrex Resources Ltd	0.008	0%	0%	0%	-11%	$8,678,940
DTM	Dart Mining NL	0.003	0%	0%	-70%	-84%	$4,792,222
EMS	Eastern Metals	0.01	0%	0%	-33%	-68%	$1,394,262
IMI	Infinitymining	0.009	0%	0%	-10%	-44%	$3,807,142
TEM	Tempest Minerals	0.005	0%	25%	0%	-44%	$5,508,975
EMC	Everest Metals Corp	0.135	0%	4%	-7%	8%	$32,499,032
OB1	Orbminco Limited	0.001	0%	0%	-40%	-60%	$3,402,568
KOR	Korab Resources	0.008	0%	0%	0%	0%	$2,936,400
CMX	Chemxmaterials	0.026	0%	0%	0%	-42%	$3,354,580
ENV	Enova Mining Limited	0.006	0%	-25%	20%	-40%	$8,745,600
AVW	Avira Resources Ltd	0.007	0%	0%	-65%	-65%	$1,610,000
NWM	Norwest Minerals	0.014	0%	17%	9%	-44%	$14,525,378
RGL	Riversgold	0.004	0%	0%	33%	-33%	$6,734,850
THR	Thor Energy PLC	0.009	0%	0%	-22%	-44%	$6,397,109
ODE	Odessa Minerals Ltd	0.006	0%	-14%	-8%	140%	$9,597,195
AZI	Altamin Limited	0.019	0%	-10%	-14%	-42%	$10,915,555
LNR	Lanthanein Resources	0.001	0%	33%	-47%	-67%	$2,810,182
CLZ	Classic Min Ltd	0.001	0%	0%	0%	0%	$3,017,699
PEK	Peak Rare Earths Ltd	0.31	0%	11%	114%	102%	$133,466,467
TAR	Taruga Minerals	0.008	0%	14%	-11%	-11%	$5,710,032
DRE	Dreadnought Resources Ltd	0.011	0%	10%	-8%	-52%	$55,874,500
KFM	Kingfisher Mining	0.047	0%	-6%	31%	-33%	$2,524,605
GRL	Godolphin Resources	0.011	0%	22%	-21%	-21%	$5,386,480
LNR	Lanthanein Resources	0.001	0%	33%	-47%	-67%	$2,810,182
EV1	Evolutionenergy	0.016	0%	33%	-16%	-48%	$5,802,408
OM1	Omnia Metals Group	0.012	0%	0%	-85%	-85%	$2,605,100
LLL	Leolithiumlimited	0.332997	0%	0%	0%	0%	$401,204,047
SRN	Surefire Rescs NL	0.002	0%	0%	-40%	-66%	$6,457,219
LU7	Lithium Universe Ltd	0.007	0%	17%	-30%	-55%	$6,551,857
TMX	Terrain Minerals	0.0025	0%	25%	-38%	-17%	$6,329,536
ANX	Anax Metals Ltd	0.007	0%	0%	-30%	-73%	$6,179,653
RON	Roninresourcesltd	0.15	0%	-9%	-23%	25%	$6,056,252
ASR	Asra Minerals Ltd	0.002	0%	0%	-33%	-67%	$8,000,396
AEE	Aura Energy	0.165	0%	6%	6%	18%	$151,427,524
AMD	Arrow Minerals	0.02	0%	0%	-55%	-67%	$17,555,332
CUL	Cullen Resources	0.005	0%	67%	0%	-33%	$3,467,009
HWK	Hawk Resources.	0.02	0%	33%	-9%	-44%	$5,418,589
ORN	Orion Minerals Ltd	0.01	0%	0%	-33%	-41%	$72,816,361
SER	Strategic Energy	0.006	0%	-8%	-25%	-60%	$4,697,233
SVY	Stavely Minerals Ltd	0.019	0%	73%	6%	-30%	$10,336,800
SVM	Sovereign Metals	0.74	-1%	13%	-2%	13%	$488,438,721
NST	Northern Star	16.305	-1%	-18%	-6%	16%	$23,813,905,145
QGL	Quantum Graphite	0.49	-1%	2%	5%	-15%	$165,594,537
KNI	Kunikolimited	0.093	-1%	-19%	-44%	-54%	$8,083,957
DEV	Devex Resources Ltd	0.086	-1%	9%	-10%	-66%	$38,868,779
ASL	Andean Silver	1.365	-1%	31%	41%	80%	$221,489,388
HAS	Hastings Tech Met	0.29	-2%	9%	-5%	-15%	$59,073,040
DVP	Develop Global Ltd	4.6	-2%	-4%	107%	145%	$1,530,301,137
CHR	Charger Metals	0.05	-2%	14%	-25%	-18%	$3,948,433
SLM	Solismineralsltd	0.081	-2%	-8%	21%	-40%	$11,427,494
BUR	Burleyminerals	0.04	-2%	-13%	-49%	-61%	$7,366,692
WA1	Wa1Resourcesltd	17.34	-3%	21%	31%	16%	$1,167,687,454
ABX	ABX Group Limited	0.038	-3%	-5%	-16%	-31%	$9,571,497
RVT	Richmond Vanadium	0.073	-3%	-26%	-56%	-76%	$15,772,687
PSC	Prospect Res Ltd	0.18	-3%	16%	87%	44%	$129,608,628
PFE	Pantera Lithium	0.018	-3%	50%	6%	-39%	$8,764,998
QPM	QPM Energy Limited	0.035	-3%	0%	-50%	0%	$102,523,345
EFE	Eastern Resources	0.031	-3%	0%	-3%	-38%	$3,908,788
A11	Atlantic Lithium	0.155	-3%	-3%	-38%	-59%	$103,972,097
FG1	Flynngold	0.029	-3%	-9%	16%	0%	$11,348,178
HMX	Hammer Metals Ltd	0.029	-3%	-9%	-6%	-28%	$26,632,761
SFM	Santa Fe Minerals	0.27	-4%	671%	694%	744%	$21,117,449
OD6	Od6Metalsltd	0.026	-4%	0%	-61%	-47%	$4,172,167
1AE	Auroraenergymetals	0.049	-4%	-11%	-18%	-25%	$8,774,123
MLX	Metals X Limited	0.655	-4%	24%	44%	49%	$571,722,542
BMM	Bayanminingandmin	0.063	-5%	80%	26%	-7%	$6,879,941
ARL	Ardea Resources Ltd	0.41	-5%	3%	15%	-15%	$85,217,231
RAG	Ragnar Metals Ltd	0.02	-5%	0%	3%	0%	$9,479,720
AXE	Archer Materials	0.285	-5%	24%	-35%	-8%	$72,631,399
S2R	S2 Resources	0.0665	-5%	2%	-11%	-40%	$32,996,123
EVR	Ev Resources Ltd	0.0095	-5%	36%	280%	88%	$20,047,530
ARN	Aldoro Resources	0.35	-5%	8%	23%	332%	$64,182,702
SRZ	Stellar Resources	0.017	-6%	13%	21%	-15%	$35,355,760
PUR	Pursuit Minerals	0.067	-6%	81%	-18%	-55%	$6,682,176
ICL	Iceni Gold	0.066	-6%	12%	-6%	0%	$22,657,892
RMX	Red Mount Min Ltd	0.008	-6%	-11%	0%	-20%	$4,658,367
AX8	Accelerate Resources	0.008	-6%	33%	-27%	-33%	$6,537,510
ZNC	Zenith Minerals Ltd	0.032	-6%	-14%	-29%	-40%	$16,942,576
CRI	Critica ltd	0.016	-6%	-6%	-16%	-11%	$45,869,097
1MC	Morella Corporation	0.015	-6%	-12%	-38%	-65%	$5,526,435
M24	Mamba Exploration	0.015	-6%	20%	-12%	25%	$4,722,650
AUZ	Australian Mines Ltd	0.007	-7%	-22%	-42%	-22%	$12,832,591
ETM	Energy Transition	0.0475	-7%	10%	-40%	138%	$71,364,799
MTC	Metalstech Ltd	0.135	-7%	-4%	0%	-40%	$29,977,420
EGR	Ecograf Limited	0.335	-7%	20%	264%	191%	$154,438,818
ESR	Estrella Res Ltd	0.04	-7%	-23%	54%	900%	$84,306,531
LLM	Loyal Metals Ltd	0.2	-7%	54%	111%	60%	$21,573,943
FBM	Future Battery	0.026	-7%	44%	0%	4%	$14,809,543
LML	Lincoln Minerals	0.0065	-7%	30%	8%	8%	$13,666,703
A8G	Australasian Metals	0.062	-7%	-6%	-17%	-23%	$3,589,163
FLG	Flagship Min Ltd	0.055	-8%	22%	28%	-32%	$13,196,926
NH3	Nh3Cleanenergyltd	0.055	-8%	112%	206%	323%	$34,366,799
PGM	Platina Resources	0.021	-9%	5%	11%	-16%	$13,086,787
LRV	Larvottoresources	0.725	-9%	33%	8%	504%	$299,001,368
CNB	Carnaby Resource Ltd	0.41	-9%	12%	19%	-23%	$95,923,321
SBR	Sabre Resources	0.009	-10%	13%	6%	-36%	$3,550,157
SRI	Sipa Resources Ltd	0.018	-10%	29%	29%	0%	$7,495,170
WR1	Winsome Resources	0.18	-10%	44%	-63%	-70%	$47,573,848
LCY	Legacy Iron Ore	0.009	-10%	0%	0%	-48%	$87,858,383
MNB	Minbos Resources Ltd	0.045	-10%	7%	-18%	-32%	$44,852,282
GBR	Greatbould Resources	0.06	-10%	-5%	28%	11%	$58,927,864
ARU	Arafura Rare Earths	0.1925	-10%	17%	54%	1%	$492,865,738
BUX	Buxton Resources Ltd	0.042	-11%	8%	5%	-48%	$13,744,236
MHK	Metalhawk.	0.37	-11%	-20%	12%	612%	$46,272,211
LEG	Legend Mining	0.008	-11%	33%	-20%	-38%	$23,315,817
M2R	Miramar	0.004	-11%	33%	0%	-64%	$2,990,470
SRL	Sunrise	1.32	-12%	103%	313%	207%	$147,101,074
VMC	Venus Metals Cor Ltd	0.105	-13%	-5%	62%	21%	$21,574,155
PNT	Panthermetalsltd	0.0095	-14%	-27%	6%	-62%	$3,009,045
QEM	QEM Limited	0.029	-15%	-24%	-59%	-78%	$6,855,610
DYM	Dynamicmetalslimited	0.23	-15%	-10%	-15%	35%	$9,816,868
MTM	Metallium Ltd	0.74	-15%	17%	190%	1847%	$380,883,366
KAI	Kairos Minerals Ltd	0.025	-17%	-22%	79%	194%	$67,088,261
HRE	Heavy Rare Earths	0.046	-18%	35%	53%	60%	$9,361,525
AQD	Ausquest Limited	0.044	-19%	-24%	83%	313%	$61,242,106
MOH	Moho Resources	0.004	-20%	0%	-20%	-20%	$3,727,070
CRR	Critical Resources	0.004	-20%	14%	-33%	-56%	$13,850,427
ARR	American Rare Earths	0.345	-21%	41%	21%	28%	$206,518,936
CMO	Cosmometalslimited	0.018	-22%	6%	21%	-60%	$5,798,441
REE	Rarex Limited	0.0205	-24%	8%	156%	37%	$18,403,280
BNR	Bulletin Res Ltd	0.046	-25%	-19%	28%	-6%	$17,029,573
BYH	Bryah Resources Ltd	0.006	-25%	-50%	50%	33%	$6,001,195
AOA	Ausmon Resorces	0.0015	-25%	-25%	0%	-50%	$2,622,427
ENT	Enterprise Metals	0.002	-33%	-33%	-33%	-33%	$3,428,293
AYM	Australia United Min	0.002	-33%	0%	0%	-33%	$3,685,155

WordPress Table

Weekly Small Cap Standouts

Helix Resources (ASX:HLX)

HLX is zeroing in on two distinct copper-gold systems at the White Hills project in Arizona, US, with a combination of geophysical, geological and geochemical results.

Two geological formations meet on the project’s tenure. Management reckons there’s evidence of copper at the northern end of the Arizona Arc formation, while a fault-style gold system sits at the southern end of the Walker Lane gold trend, both within the project area.

"With growing interest and policy support for domestic copper production in the U.S., the project is ideally positioned to benefit from this momentum,” executive chairman Mike Povey said.

While prices are not soaring the same as gold, the red metal is currently fetching between US$4.50-5.50/lb at the time of writing, reflecting a big arbitrage weighted to the US market, with tariffs on the horizon.

Vanadium Resources (ASX:VR8) 

The company has signed an offtake agreement for the supply of 100,000 tonnes of vanadium-rich magnetite direct shipping ore (DSO) each month from the world-class Steelpoortdrift vanadium project in South Africa.

The offtake positions VR8 to transition from developer to producer and is a fillip as the company advances its near-term cash flow strategy aimed at unlocking value from Steelpoortdrift’s vast JORC resource, while preserving the flexibility to pursue full-scale development as market conditions improve.

Due to the absence of a standard spot price for the DSO product, the agreement, which is valid for two years, is also conditional on subsidiary VanRes finalising pricing terms with CPAL by August 30, 2025.

Executive chairman Jurie Wessels said alongside this negotiations with other potential offtakers are also progressing.

“These may lead to the staged or full-scale development of beneficiation through concentration capacity, enabling the production of higher-grade ore,” he said.

“Concurrently, we are assessing commercialisation opportunities with entities that possess downstream processing capabilities.”

Patriot Battery Metals (ASX:PMT)

This week the company confirmed that the Shaakichiuwaanaan project in Canada hosts the world’s largest pollucite-hosted caesium pegmatite deposit.

PMT declared a maiden Caesium Zone resource estimate of 163,000t at 10.25% caesium, 1.78% lithium, and 646 ppm tantalum (indicated) at the Rigel zone, and 530,000t at 2.61% caesium, 2.23% lithium, and 172 ppm tantalum (indicated) at the Vega zone.

President, CEO and managing director Ken Brinsden said what’s particularly existing for investors is that the addressable market for caesium appears to be at a key inflexion point, “with its ability to improve the efficiency and stability of next generation terrestrial solar technologies having the potential to drive a massive increase in global demand.”

“Shaakichiuwaanaan stands to play a driving role in the growth of this exciting new market,” he said.

“As we finalise the maiden lithium-only Feasibility Study for the CV5 Pegmatite, we are excited to start work on unlocking the enormous potential of the caesium resource.”

Shaakichiuwaanaan is already North America's largest hard rock spodumene hosted lithium resource.

At Stockhead, we tell it like it is. While Renascor Resources, Kingsland Minerals, iTech Minerals, Buxton Resources and Green Critical Minerals are Stockhead advertisers, they did not sponsor this article.

Originally published as High Voltage: US graphite stocks gain 40pc advantage thanks to anti-dumping tariff on China